Essar-Loop may be spared PCA charges

The agency is likely to name Anshuman Ruia,Ravi Ruia,I P Khaitan and Kiran Khaitan from Essar group,said sources. They added that the chargesheet would also contain the names of officials from Loop Telecom.

The chargesheet,the third in the 2G scam,will deal with the violation committed by Essar-Loop while being awarded telecom licence.

The agency has for long been planning to file the chargesheet but the decision was delayed after a division of opinion between the officers investigating the matter and CBIs director of prosecution. The matter was then referred to the Attorney General. The opinion of AG,which was received last month,agreed with the findings of CBI investigators to proceed with the action against Essar-Loop,its promoters and other officials.

Sources said after the AG report,CBI director A P Singh gave his a nod to proceed with the filing of the chargesheet.

The CBI investigators wanted to charge Ruia and Khaitan under charges of Prevention of Corruption Act but after several rounds of discussion,the charges were dropped.

The allegation against Essar promoters is that they floated Loop Telecom to obtain telecom licences during the tenure of former telecom minister A Raja. This,the CBI said,was violation under clause 8 of the UASL guidelines.